Skip to main content

tv   Bloomberg Daybreak Australia  Bloomberg  January 7, 2018 5:00pm-6:00pm EST

5:00 pm
♪ >> president trump declares he is open to talks with north korea, saying tuesday's planned meeting with the south may be great for humanity. president's allies flood u.s. airways defending him against claims he is not mentally fit for office. markets and the president fed aa disappointing u.s. jobs report. australia's slump in mining investment is bottoming out.
5:01 pm
hello from sydney where it is just past 9:00 a.m. we are one hour out from the open of asia's major markets. >> it is just after 5:00 here in new york. over the next hour we will be all the action will be playing into the trading day. it is fortunate we're not seeing a lot of ripples in the economy because we have enough ripples going on in washington these days. that is occupying the headlines. friday cameob data in below estimates but wages gained into did not disrupt the view the fed is on track for at least three interest rate hikes this year. s&p adding on record gains, the , acceleratinggher up over 200 points. tech stocks continue to be another bright spot in the market. that momentum we saw in tech stopping at17 not
5:02 pm
least in the first week of january. haidi: it has been a stellar start to the year. the question this week will be whether low inflation is a goldilocks situation and continues. it culminates in inflation numbers in the u.s. at the end of the week. in the meantime we have china's inflation numbers and india as well. that will give us a better idea of what to expect in the landscape. taking a look in asia we are looking at a positive set up despite it being a holiday. a session with japan out of play, new zealand a flat session at the moment. 64. kiwi dollar at .71 trading at a 10 year high. looking to continue that momentum which is largely been boosted by mining and energy stocks. a report from the department of industry said 2018 will be the
5:03 pm
inflection point for the mining boom. 7864,ussie dollar at . close to the three-month high it hit after u.s. jobs numbers disappointed. a quick check across commodity. gold looking more of a cautious week. at 61.44. not much inspiring iron ore, given that same report suggested further volatility. as a mentioned, no trading in japan today. been closed for new year's holidays and now it is the coming of age day-to-day. very interesting holidays as always from japan. let's get you up-to-date with news.word >> and iranian oil tanker bus has collided in shanghai news.
5:04 pm
leaving people missing. the tagger caught fire after the collision and was carrying nearly one million barrels of natural gas. it happened on saturday off the coast. the missing sailors are all from iranian ships. australia's government is iron or is in for a bumpy ride in 2018. the world's largest exporter says prices will average $52 over the year, though they may be higher in the first half. australia's department of industry also sees oil prices dropping in the next two years and treasury yields rising on higher u.s. interest rates. gentler angela merkel says germany needs a stable government to begin make or break talks with social democrats and open the talks to a fourth term. they began exploratory talks sunday.
5:05 pm
europe's biggest economy has faced more than three months of postelection still made after angela merkel failed to win an outright majority. malaysia's opposition has named a 92-year-old as its candidate for prime minister in an election that must be held by august. the longest serving primary will try to cobble the -- topple the current friend minister. the opposition says if the wins you will remain prime minister until jailed. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. president trump says the u.s. is open to joining talks with north korea and south korea at the appropriate time, saying it would be a win for humanity is something comes out of the planned meeting. >> if we can come up with a very peaceful and very good solution, we're working on it with rex and
5:06 pm
a lot of people. if something can happen and come out of those talks, that would be a great thing for all of humanity. haidi: let's head straight to washington. bloomberg editor joins us with more. these comments from trump are a bit of change in tradition. it has been a difficult year in rising personal tensions with kim . >> it certainly was a bit of a change from trump. we don't know how long-lasting because it's only been a few days since the president was talking on twitter about his nuclear button is better than kim's and his button works. for him to talk about something be great for humanity, a change in pace. we had nikki haley following up today on one of the sunday talk saying there is a lot of things that would have to happen before such talks to go ahead, including progress by pyongyang
5:07 pm
on stopping its nuclear program. a lot of people think that is a total nonstarter. maybe we are just in a circular game here and back to the beginning. i think at some point president trump make think that engaging with north korea and doing something, as he said, for the benefit of humanity, would be a real college and for him. betty: he suggested early on in his campaign that having a burger with the north korean leader would make progress. let's talk about the fire and fury, the book certainly living up to its title these days. we have had several comments from his team refuting many parts of this book. flurry of tweets over the weekend from president trump himself. quote, i have had to put up with fake news is the
5:08 pm
first day i announced i would be running for president. now i have to put up with a fake book. ronald reagan had the same problem and handled it well. so will i. what is going to be the fallout? is there going to be any fallout from this? andt is a great question the thing with president trump's people have always wondered, is he crazy or is he crazy like a fox? fox mets wolff. it is a battle to the death. hadeems that michael wolff some serious access to the more debt to the early months of the white house come in and out of the white house talking to a lot of people. we wonder now if there could be some fallout among the white house staff in terms of nailing down, who let this guy in any way. some of the people involved and that are no longer in the white house and some who may have been involved could be out. but i think you will look for
5:09 pm
president trump to try to shake this off in the next few days. as he did on twitter this afternoon, go back to his usual mantra about jobs, jobs, jobs, focusing on the tax cut. a lot of companies have announced in the last few days they will give bonuses to their workers and they have linked this to the trump tax cut. once again, he is likely to visit and go back to the and go back pivot to the messaging that is so important to him. betty: right, not focus on the fake news he's talking about. our bloomberg editor, we would back with you in the next hour. president trump wants to talk about employment growth. slowed in 2017 and drew to a close i just 148,000 jobs. that might make it tougher to
5:10 pm
make trump -- kathleen hays is here with more. does it change the picture? not change the picture but it does raise some big questions. let's start with the fact we saw the payroll number losing momentum, and that is as the labor market is tightening. we even saw unemployment staying at 4.1%. 1480,00 -- it was supposed to grow 190,000. we just cannot expect jobs to grow as quickly. but there are some questions it raises for the economy. economists said on friday less jobs growth. we also had a wider trade gap in the u.s. which will mean it is very hard to meet three people are -- 3% gdp growth anytime soon. , he was askedand
5:11 pm
about tax cuts and he said it could make me change my mind on policy. >> my baseline case is we are still in the same regime. i think there is some possibility this could light a fire under investment and really drive growth higher. if that happens, i would certainly take note of that and adjust policy appropriately. kathleen: adjust his policy? he is the one who doesn't want any more rate hikes. head of the council of economic advisers says tax cuts might improve growth but it will be a supply side. no more inflation, they will not need to boost rates. it will be interesting to see if that conversation gets louder as the year wears on. the white house is waiting for jobs to grow faster. betty: is three hikes this year still on? kathleen: let's go back to that
5:12 pm
meeting on sunday. the consensus from the president of the san francisco fed. he said three rate hikes this year still make sense. you can adjust it if you need to. harper who was clearly in the camp for three fed right -- rate hikes says he only sees two now. he said i want to be slow and steady with any additional rate increases. at this point i don't think we should do anything that would precipitate any inversion of the yield curve. now you can see what he is talking about here. is an old picture but when you see the old curve flattening and inverting, you get red bars. and that is a recession. you get a flatter yield curve, this is why he is saying the fed should go slowly. this puts him in the same camp as the bond market. the futures market is also looking for just two rate hikes
5:13 pm
in 2018 even know the fed is looking for three. switching to china, a big week in terms of data for we already had a positive report on it comes to foreign exchanges over the weekend continuing to rebound. so the question is, can it last and is a sustainable? kathleen: it is certainly a welcome change, a welcome development for the leadership in china. to $3.14reserves are trillion. the things driving it -- they put on capital controls when they were getting hammered recently and it has strengthened. and you have resilient gdp boosting reserves. you can see two things. -- they had been coming down since 2014. a lot more in 2016, starting to recover in 2017. this period of currency
5:14 pm
weakness, giving more credit to helping reverse the trend. when of the questions raised by our bloomberg news team in is itg covering this could last but the problem is china's foreign exchange keeps rising, will this escalate trade tensions? will this be used as a reason to get closer to our trade war? the bottom line is so far it looks like a good development. the other questions are going to be even bigger and 2018. many china experts say this could be the year of a trade tensions we did not see in 2017. haidi: thank you so much for that. at the chinave conference in shanghai today. no doubt when of those themes will be front and center. don't miss our exclusive interview 2:40 monday afternoon here in sydney, 10:40 sunday
5:15 pm
night in new york. over the next hour we will be speaking to paul donovan. betty: up next, dovish views on the u.s. labor market. are they wrong? chuck lieberman thinks so. we will ask him to explain in just a moment. this is bloomberg. ♪
5:16 pm
5:17 pm
♪ haidi: i am haidi lun in sydney. betty: and i am betty liu in new york. more on the december u.s. jobs report we had last friday. unemployment holding at the lowest level since 2000 even jobs were148,000 created last month, well below the estimate. but gary cohn says we should not get used to numbers this low. >> i do not think we should get used to numbers below 200,000.
5:18 pm
seeing is a continuation of a trained we have seen in the retail industry and that is something that we have got to get used to. betty: i want to bring in chuck lieberman, it advisor -- managing partner from sarasota, florida. you have written many pieces here on bloomberg including one where you note that these dovish views on the jobs market, the labor market, they are wrong. why? chuck: we have been hearing nothing but dovish views on the job market for longtime. the unemployment rate you's falling and that is because of relatively slow growth in the labor force. we have a population that is orducing roughly 50,000 75,000 new jobseekers every month. ,000 is double or triple the potential growth of the economy. it is just simply a sprawling
5:19 pm
report and we have to accept that. betty: so why haven't we seen wages track that? chuck: that's the interesting question. that is the mystery. my guest is there are a number of factors that are depressing the average hourly earnings number. if you look at the job growth you will find that most of the new jobs offer lower wage, less educated workers. the most educated in our society are pretty much fully employed. their unemployment rate is almost exactly 2%. so there are not that many of those people left to be hired. so the average comes down because we hire more low-wage workers. betty: i want to bring up an interesting chart we have on the bloomberg that might also explain the sluggishness we saw in december, which to be fair, it was a myth but not alarming by any leap, still creating over 100,000 jobs. it shows that the shape of the number rightyroll
5:20 pm
now looks like it is indicating we are still in the mid-cycle of our labor cycle, so to speak. if you look back on other periods of time. would you agree with that? some are concerned or saying we're at the latter half of the jobs cycle. chuck: we're definitely going to -celeration ofde job growth. over 6 million job openings in the u.s. but there are simply fewer and fewer people available to be hired. and without some sort of surge coming in from outside the labor force, which does not appear likely, we are going to see the unemployment rate hit all-time low -- all-time lows potentially in 2018. haidi: i want to break up -- bring up a quick chart. the u.s. dollar has been so unloved. out of therprises
5:21 pm
u.s. economy versus u.s. dollar are diverging. why are we seeing such a diverse city when -- given the economic footing where on? chuck: you have heard some of the comments of some of the fed bank presidents. they are suggesting they don't want to see an inverted curve, a flattening of the curve, they don't want higher interest rates. they want to see evidence of higher inflation. all of that combined tells the market it is safe to buy bonds with the prospect for u.s. interest rates now rising. that does not support the dollar. i think it is all wrapped up in that same thesis. haidi: on the inflation question, given we know there is a store flag is it just a sense we are being impatient? is a quicker than expected turnaround one of the risks the market is ignoring at the moment? chuck: i think that's exactly right.
5:22 pm
i think we are going to get higher inflation. i expect it to show up in 2018. i expect it to show up in 2017, to be perfectly honest. it is taking a little longer than i expected. this is one of those bets where time is not your ally. so those you think that inflation is going to stay very well behaved are likely to be proven wrong. betty: so minimum three interest rate hikes this year? minimum? chuck: yes, the minimum is three. there is a better chance than not of four. it all declines on inflation. there is clearly a significant minority within the federal reserve that does not want to raise rates unless they see higher inflation. the majority has out rules and outvoted them. but if inflation kicks up that whole calculus within the fed will change overnight. haidi: do you expect that if we do see inflation rear it said that we may have minimum free read -- interest rate hikes, you
5:23 pm
expect the dollar will behave more accordingly to that scenario than it did in 2017? chuck: yes. i think the early part of the year the dollar remains under some downward pressure, which by the way, also reverts with inflation. once inflation kicks up and the fear of interest rates and to the market, then i think that will support the dollar. betty: thank you so much. inef investment officer sarasota, florida reacting to the friday jobs report and the outlook for the fed. you can know is find in-depth analysis like that on bloomberg radio. tune into "daybreak australia." you can download the app or access it via bloomberg radio.com ♪
5:24 pm
5:25 pm
♪ i am haidi lun in sydney. betty: you're watching "daybreak
5:26 pm
australia." let's get a check of the latest business flash headlines. pressure is mounting on the ceo of deutsche bank after fourth-quarter trading revenue slumped 22%. it will take a $1.8 billion hit from the trump tax overhaul leading to its third straight annual loss. with the same woes plague u.s. banks will be revealed at the end of this week when jpmorgan and wells fargo kickoff earnings. haidi: disney's latest star wars movie raked in almost $29 million in china coming in below its predecessors. is global all is now more than $1.2 billion. in china, moviegoers did not grow up with the original trilogy. held talksent has with a social network in london about potential investment. insights unidentified bankers
5:27 pm
think has not tabled a formal bid. they said in an exchange filing last week it had received an approach from another organization which may or may not lead to a takeover. haidi: we are checking market trading across the region. what a phenomenal start to the year it has been. we have had japanese equities trading at highs. they are off on holiday today. new zealand, a pretty flat session. declines when it comes to the u.s. dollar index. let's look at how things are shaping up in australia. a bit of momentum going into the citi open. to the upside. pretty close to the three-month high very much insight. taking a look at what else we have ahead on "daybreak metallia," gains across
5:28 pm
prices, rebuilding when it comes to australian mining and energy projects. could this be the end of the slump? this is bloomberg. ♪
5:29 pm
5:30 pm
is 9:30 a.m. in sydney, markets open in about 30 minutes. buoyant futures going into the open. assets trading at the highest since january 2008. it is a little bit cooler here today after that 117 degree peak we had in some parts of the city yesterday. betty: a lot cooler. i am in new york, it is 5:30 p.m. and you are watching "daybreak: australia." an 11th straight month increase in december, capping a year of recovery.
5:31 pm
to $3.141 billion trillion. steadily rebounding since forary, when it fell below the first time in almost three years. steve bannon has issued a lengthy apology to donald trump and his family. he told a political website that donald trump, jr. is a patriot and a good man. allies have been speaking of against a book that questions the president's fitness for office. mike pompeo appeared on fox news saying the president understands the complex issues before him. talks will be held on tuesday for the first time since 2015, signaling a break in a crisis that escalated under the trump presidency. u.s. ist trump says the open to joining the discussions
5:32 pm
between south and north korea under the right conditions. u.k. prime minister theresa may has a set a cabinet reshuffle is coming soon after the resignation last month of her first secretary of state. a minister will be appointed to lead on trade deals. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. ♪ let's look at what we should get -- we watching as trading gets underway in asia. about tongs season is kick off and everyone is terribly bullish. >> they are, as we have seen in past years, the start of bullish years can lead to a downgrain of estimates. i think the setup this year is
5:33 pm
different. let's dive into the bloomberg, 4479. it shows you the ratcheting up of earnings estimates over the last quarter or so. really we are at record stock prices in the region as we are in many parts of the world. what is fundamental to the landscape at the moment is the balance between the growth and inflation. growth that isn't too strong to warrant a significant misstep by a central bank while inflation needs to be contained to allow profit estimates to continue to ramp up. you the4481, it shows cyclical outlook of these upgrades. some of the cyclical sectors that have been some of the most, best performers, outperforming the wider market. that is crucial, it shows you more of a reflection of what the story means for the global economy. it is a story, a cycle about where we are in terms of
5:34 pm
economic growth and with profits more geared to the stage of the cycle. of course, we have been on a good run with earnings being ramped up. this week with some of the big earnings camille, we have samsung tomorrow, big companies and big tomorrow bellwethers in the u.s. like jpmorgan and wells fargo. deliver these need to to get a leg up for equities. what is the biggest factor that could potentially derail this optimism? adam: of course, one potential factor that could cause derailment is the very nature of the bullishness within itself. any little shock here or there could mean significant downside to equities. more broadly speaking, there are a couple of things on the horizon that might give us a global. -- a wobble.
5:35 pm
tightening in places like the u.s. see an increase pace of the tightening, it could see shocks far and wide across asia, as well, and clearly for equities priced very highly at the moment. whether or not we get a shock in china, growth is expected to be thanr this year rather last year, and uptick as we going to 2018. if we get any surprising policy there, than last year, and uptick as we going which unnerves investors, which we have seen can happen, we get that kind of scenario china, we could see a little bit of a selloff. , it iscourse inflation the one key thing investors continue to say that maybe the markets are underpricing at the moment, the fact we might get slightly more pronounced inflation than people expect.
5:36 pm
those of the key things we are looking at. betty: thank you. adam haigh. australia the top supplier of iron ore says it sees energy exports peaking in 2018. i want to go to melbourne and our commodities expert. if these be the key decline? david: after hearing all the optimism, maybe a poppy -- party pooping attitude from the government. ac earnings from metals and energy exports to rise into the middle of this year that will be 211ak, it should hit around billion australian dollars. and then the for subsequent months, just under 200 billion australian dollars. it's going to come down to
5:37 pm
softening of steel demand in china. cooking, -- coking coal, both are likely to decline. according to the forecast, quite a bumpy ride in 2018. could could get in, there be strengthen the first half, particularly if you see some of the output curves come off. we have seen china restricts some reduction -- some production, it could affect prices. over the year, we will see prices decline. they are likely to average around $52, $60 over the course of 2018 compared to a price last year of just over $71. also decline could 20% this year on supply and gains.
5:38 pm
a slightly more gloomy outlook from australia. haidi: what about the outlook for investment? are there any signs of revival when it comes to spending? australia often talks , and mining investment it's boom, and the government has said we have reached the end of that current investment phase. bere are projects that would completed through the course of 2018, and that is a line in the sand, it will mark the end of the massive rush to build iron ore mines. but the seeds for the next boom have been laid. there is an uptick in the number of publicly announced objects, new mining and energy projects, that has risen for the first time since 2013. also an uptick in exploration spending. while that will take some years to see through, chief economists
5:39 pm
in australia's department eventually say it is setting the groundwork for a fresh wave of mining investment in the years to come. haidi: what's the forecast when it comes to global steel? quite interesting, australia a key supplier of raw materials to the steelmaking industry, if these transition in the global pecking order this year. japan has been the second largest steel producer. india is poised to jump ahead of japan this year. around about 108 million tons of steel, that will overtake japan. far and awaya is the largest producer of steel, a continues to bump out around 800 million tons, quite a distance between number one and number two. haidi: thank you so much, david stringer. let's turn to the week ahead and
5:40 pm
wall street, a busy week. fridays lackluster reports are ofely to lay out in terms sentiment. investors will also be focused on the first rounds of ego data coming clean inflation, retail sales and at least one potential deal in the works. let's get the details from su. can the board continue to lead the charge of market direction? let's go quickly to the market snapshot. you'll see the s&p 500 are getting off to its best weekly gain in more than a year in the first couple of days. a lot of eyes on the dollar, showing a bit of weakness. pepco into the bloomberg -- let's go into the bloomberg, 5096. back in sync, all three major indexes hitting records. anytime you see a white mark. october, november, we saw a lot of that.
5:41 pm
this very first week of the year, we are seeing the dow, the s&p and nasdaq hitting fresh records at the same time. marker in ith certainly will continue to play out in the near term, according to many chart watchers at this point. quickly if we can go to another , closely helds and will impact of biomedicine spirit the wall street journal reporting a could be a deal involving as much as a $7 billion payout over time for this asset. it will grab a lot of it attention. a lot of attention also focused on the economic data ahead, including the focus on cpi, inflation and wage pressure. su: cpi very much a data point that will be focused on. a survey by bloomberg, i believe what we will see, a moderating
5:42 pm
of the price increases. they believe that the december oil prices, for instance, slowly had gained and that will see a moderate cpi number. there's also going to be a big focus on the retail sales data. it's expected to gain for the fourth straight month. again, retail sales have been strong in the holiday season, you're looking at packages going , it's expected to pump up the number, a shot in the arm for a lot of retailers. in terms of market direction, let's go to the bloomberg one more time, 2851. pullback,0 lack of days without if 5% drawdown, where approaching a record we haven't seen since the 1990's, 292 days straight without a major pullback. .gain, that is unprecedented the longest streak of this measure since the 1920's was in
5:43 pm
the 1960's, that was 386 trading days. a lot of chart watchers believe the short form -- short-term on.iment will be risk this is a contrary and measure that has gone on this long. betty: it is quite puzzling or interesting. that's also talk about the pain ahead. a lot of people are talking about the pain ahead for the u.s. dollar. we're going to see three minimum fed rate kites -- hikes? su: let's go to the bloomberg one more time and take a look at the projections we are seeing. many analysts are seeing more pain ahead for the greenback, even as the fed is continuing to lift rates, and the tax overhaul is about to start off, but some of the predictors as you can see by this chart, showing the forecast for the year, many prognosticators say the
5:44 pm
prevailing view is wrong again in predicting a dollar rebound that could up into rallies -- up end rallies. then, this is one of undercurrents in the market that tells us it is not quite that clear which way we are going from here. betty: thank you so much, su keenan on the markets. up next, smooth sailing. he white house figures defend president trump following the release of the controversial fire and fury book. this is bloomberg. ♪ . ♪
5:45 pm
5:46 pm
♪ >> we talk about some of the most serious in the world, complex issues, the president is engaged, he understands the complexity, he asks difficult questions of our team at the cia so we can provide them the information he needs to make informed policy decisions.
5:47 pm
and of northern was 200 interviews with steve bannon or 200 interviews with himself, but i work with these people, this is a man, he did not become the president by accident. tweetspresident's reaffirm the plainspoken truth, a self-made billionaire, revolutionized reality tv and tapped into something magical happening in the hearts of this country. >> the media made several claims about ronald reagan and donald -- and george bush. when i work with the president and the people around with him, he's been active and engaged. ♪ some of president trump's allies working to defend his fitness for office against claims in the book "fire and fury." his chief economic advisor is quoted that he thinks the
5:48 pm
president as dumb, a quote he thinks -- quote he denies. >> we are making enormous progress on a bipartisan basis on bank deregulation. we have a bill in the senate that has bipartisan some word to really change the regulatory environment for the vast majority of banks in the united states. floor timeng to see hopefully in january and we can get that bill through congress in the first quarter of this year, which is really going to free up the vast majority of banks in the united states to give back to their core business, serving their communities and customers. wereght coanchor and i having a conversation earlier about confidence and wall street. we talked about the current battle between the president and mr. bannon. his confidence being lost at this point? the perception is there is a lot
5:49 pm
of drama to kickoff 2018 and the white house. what is the reality? >> the white house is operating smoothly, everything is going well. look it will be just accomplished. let's look at the facts. we just signed literally the last working day in last year, less than two weeks ago, we just simplemajor tax reform vacation. something that has not been done for 31 years. we got that done in the white house with the president's leadership. think about that. that tells you how the white house is operating. aggressively on our new plan for this year, we have a big meeting at camp david this weekend with legislative leaders, we're going to map out our legislative plan for 2018, i think we are working quite effectively and efficiently. >> just to wrap up, a lot of weight in that last statement, and people on wall street expected you to kind of fade away and disappear after the tax bill got signed. is it going to be we for a long
5:50 pm
time? to be done onlot the economic agenda. president trump has a strong view on how we can drive the economy. i'm happy to be proud of his plan. >> is that yes? >> i'm happy to be part of his economic agenda. betty: that was gary cohn talking to jonathan ferro. different than what he reportedly has been saying in that book, "fire and fury." has been twitter coming under increasing pressure, they have had to defend their decision to allow president trump to continue his controversial tweets to remain on the platform computing in a blog post, they said that blocking a world leader from twitter would hide important information people should be able to see and debate. it would also not silence the leader but certainly hamper necessary discussion around their words and actions.
5:51 pm
but those who say he should be banned say he is violating the terms of service just like any other twitter user. the things he is saying, particularly against the north korean leader, they say is abuse. haidi: absolutely. i suppose there is also the acurity concerns about world leader making war threats in a tweet, not to mention offensive to minorities and women that have been allowed to stay out there, as well. over the weekend with donald trump, not just his allies defending his fitness for office but him going on twitter and defending himself by saying just really smart, but not smart, a genius, a stable genius. that's the phrase that's been in the headlines this weekend. says: usually when someone they are stable, it means they
5:52 pm
are unstable, but in any case, we will have to take his word for it, right? and the words of his team members. haidi: absolutely. the moreminder, one of incendiary tweets of the last few days is the one he sent to kim jong-un saying that the nuclear button is on his desk at all times, and would someone from his regime inform him i also have a bigger, more powerful button and my button works. the problem is, where does it go from mine is bigger than yours and banter to being a legitimate nuclear threat? bloomberg news is partnering with twitter on tick-tock by bloomberg, the first global news network designed for social media offering live video coverage and up-to-date top news reports verified by bloomberg. .ump on twitter and join tictoc
5:53 pm
this is bloomberg.
5:54 pm
5:55 pm
♪ tech --et's get quick check of the headlines. airbus is said to be discussing and large plane orders from china during the french president's state visit this week. variouse focused on models, although the size of the order is not final. china purchases jets collectively before distributing them to various airlines and accounts for a quarter of airbus deliveries. haidi: bloomberg has been told has china's hna group approached brokers about the possible sale of two office buildings and london's canary wharf district. they are shutting assets and cutting their debt load. say hna missed payments due to several chinese banks in recent weeks, prompting some lenders to freeze unused
5:56 pm
credit lines. betty: the u.s. justice apartment lawyers have sought -- have blocked a takeover of monsanto. leasts who attended at three separate meetings said they were interviewed about concerns about the deal. buyers remain confident in closing the deal this year. haidi: that is almost it for "daybreak: australia," but next.eak: asia" is were looking at the global economic outlook for this year. yvonne: we certainly are. we will kickstart with the global china conference in shanghai with the global chief economist paul donovan. he says for 2018 his outlook is nothing will change yet everything will be different. the main engines for global growth we saw in 2017, that will start to sputter this year, in look at china.e
5:57 pm
slower infrastructure investment, slower and the property market. he thinks chinese growth is going to slow despite we have seen upgrades from the likes of citigroup last week for 2018. he said, developed markets are not going to pick up the slack, so the global trade picture could look much different. betty: we will continue this great, high-level conversations at those conference, this one with a university of chicago professor, renowned economist and nobel laureates. in shanghai for a wide-ranging discussion on all thatose topics outlined, yvonne just outlined. china, the u.s. and global economy. haidi: absolutely. you don't want to miss this one, also out of shanghai, a ceo joining us 40 minutes past 11 hong kong time.
5:58 pm
we will be asking him about his views on volatility, the trading slump and plans for the joint venture in china. that is it for "daybreak: australia." this is bloomberg. ♪
5:59 pm
6:00 pm
♪ yvonne: we are live from bloomberg's asian headquarters, welcome to "daybreak: asia." looks to have gains at the start of the new week as earnings season kicks off. president trump declares he is open to talks with north korea, saying tuesday's planned meeting with the south may be great for humanity. betty: and from new york, it is just after 6:00 on sunday. on the counter attack, the president allies flooded u.s. airways to defend him against claims he is not fit for office. and china's exchange reserve gains for the 11th st

22 Views

info Stream Only

Uploaded by TV Archive on